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Alternatives boost LPFA performance
06 October 2009
The London Pensions Fund Authority fund, like many other funds, has suffered from the global financial crisis. However, the performance could have been worse but for its diversification strategy, writes James Norris
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The London Pensions Fund Authority
Mike Taylor
CEO
The London Pensions Fund Authority is now one of the UK’s largest administering authorities of the Local Government Pension Scheme, with a fund membership of about 76,000 members and assets of more than £3bn, as at 31st March 2009 (down from £3.6 billion in March 2008). As well as managing its own fund, the LPFA manages the assets of five of the 34 London boroughs.
LPFA also provides third party administration and similar services to employers and six other local authorities. These currently include pensions administration, pensions payroll, fund accounting and technical consulting as regards the Local Government Pension Scheme and the Firefighters Pension Scheme.
The London Pensions Fund, a final salary defined benefit scheme, is managed in accordance with statutory regulations set out by the government. As a public body, the LPFA is committed to a close working relationship with its members and clients, which is...
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